WINMARK CORP — Director's Dealing 2023

Oct 23, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WINMARK CORP (WINA)
CIK: 0000908315
Period of Report: 2023-10-20

Reporting Person: Ishaug Anthony D (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-10-20	Common Stock	M	2447	$82.72	Acquired	50624	Direct
2023-10-20	Common Stock	S	200	$417.32	Disposed	50424	Direct
2023-10-20	Common Stock	S	2247	$415.18	Disposed	48177	Direct
2023-10-20	Common Stock	M	1835	$66.29	Acquired	50012	Direct
2023-10-23	Common Stock	M	1553	$82.72	Acquired	51565	Direct
2023-10-23	Common Stock	S	1553	$413	Disposed	50012	Direct
2023-10-23	Common Stock	M	1165	$66.29	Acquired	51177	Direct
2023-10-23	Common Stock	M	606	$164.84	Acquired	51783	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-10-20	Employee Stock Option (right to buy)	$82.72	M	4000	Disposed	2023-12-16	Common Stock (4000)	Direct
2023-10-20	Employee Stock Option (right to buy)	$66.29	M	3000	Disposed	2024-06-01	Common Stock (5992)	Direct
2023-10-23	Employee Stock Option (right to buy)	$164.84	M	606	Disposed	2029-06-01	Common Stock (4000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$80.32	2024-12-15	Common Stock (7500)	7500	Direct
Employee Stock Option (right to buy)	$91.93	2025-06-01	Common Stock (5713)	5713	Direct
Employee Stock Option (right to buy)	$90.99	2025-12-14	Common Stock (6800)	6800	Direct
Employee Stock Option (right to buy)	$98.25	2026-06-01	Common Stock (5783)	5783	Direct
Employee Stock Option (right to buy)	$125.50	2026-12-12	Common Stock (6800)	6800	Direct
Employee Stock Option (right to buy)	$122.50	2027-06-06	Common Stock (4184)	4184	Direct
Employee Stock Option (right to buy)	$134.25	2027-12-11	Common Stock (5000)	5000	Direct
Employee Stock Option (right to buy)	$143.20	2028-06-01	Common Stock (4302)	4302	Direct
Employee Stock Option (right to buy)	$156	2028-12-11	Common Stock (5000)	5000	Direct
Employee Stock Option (right to buy)	$176.2	2029-12-16	Common Stock (4000)	4000	Direct
Employee Stock Option (right to buy)	$143.87	2030-06-01	Common Stock (4000)	4000	Direct
Employee Stock Option (right to buy)	$183.87	2030-12-14	Common Stock (4000)	4000	Direct
Employee Stock Option (right to buy)	$195.82	2031-06-01	Common Stock (4000)	4000	Direct
Employee Stock Option (right to buy)	$261.32	2031-12-13	Common Stock (5700)	5700	Direct
Employee Stock Option (right to buy)	$197.80	2032-06-01	Common Stock (5920)	5920	Direct
Employee Stock Option (right to buy)	$238.60	2032-12-12	Common Stock (3780)	3780	Direct
Employee Stock Option (right to buy)	$325.99	2033-06-01	Common Stock (2600)	2600	Direct

Footnotes

F1: 200 Shares sold at an average price of $417.32, with a range of $417.30 to $417.34, to cover a portion of the payment of exercise price of and taxes due on option exercises included on this Form 4

F2: 2,247 shares sold at an average price of $415.18, with a range of $415.10 to $415.64, to cover a portion of the payment of exercise price of and taxes due on option exercises included on this Form 4.

F3: 1,553 shares sold at a price of $413.00 to cover a portion of the payment of exercise price and taxes due on option exercises included on this Form 4.

F4: 2,447 option shares exercised 10/20/2023 and 1,553 option shares exercised 10/23/2023 as indicated in Table I

F5: 25% per year for four years.

F6: 1,835 option shares exercised 10/20/2023 and 1,165 option shares exercised 10/23/2023 as indicated in Table I.